Baihang ramps up credit rating efforts

Agency plans new products to cover more fields, build up mobile platform

Demand for the credit data of consumers is surging rapidly because of the boom in internet finance in China.

The State Council on July 16 issued a guidance to speed up the establishment of a credit-based regulatory mechanism, encouraging market entities to take good use of credit reports in a wide spectrum, especially in government procurements, bidding, administrative approvals, market access and auditing.